U.S. GDP Figure Bumped Up

Advanced figures on the first quarter gross domestic product indicate the U.S. economy moved marginally ahead in the first quarter, officials said.

The U.S. gross domestic product rose 0.9 percent, the Bureau of Economic Analysis said. The figure is an upward revision of the 0.6 estimate made in April.

The new includes positive gains in inventory investment, the report said.

The revised figures show that computer sales added 0.06 percent points to first quarter growth, while motor vehicle production subtracted 0.35 percentage points.

Personal spending increased 1 percent in the first quarter, a decline from the fourth quarter of 2007 increase of 2.3 percent.

The Bureau of Economic Analysis didn’t change estimates on prices in the United States, which rose 3.5 percent compared with an increase of 3.7 percent in the fourth quarter.

Core prices figures, excluding food and energy prices, also remained unchanged, rising 2.2 percent after an increase of 2.3 percent in the fourth quarter, the report said.

In the quarter, the U.S. gross national product increased 1.1 percent after an increase of 1.9 percent in the fourth quarter of 2007.